Calamos Advisors LLC raised its holdings in shares of Constellation Brands, Inc. (NYSE:STZ – Free Report) by 19.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 157,672 shares of the company’s stock after acquiring an additional 26,077 shares during the quarter. Calamos Advisors LLC owned approximately 0.09% of Constellation Brands worth $39,628,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently added to or reduced their stakes in STZ. Indiana Trust & Investment Management CO purchased a new stake in shares of Constellation Brands during the third quarter worth about $25,000. Impact Partnership Wealth LLC raised its position in shares of Constellation Brands by 1,175.0% in the third quarter. Impact Partnership Wealth LLC now owns 102 shares of the company’s stock valued at $26,000 after buying an additional 94 shares during the last quarter. Old North State Trust LLC raised its position in shares of Constellation Brands by 3,290.0% in the first quarter. Old North State Trust LLC now owns 678 shares of the company’s stock valued at $27,000 after buying an additional 658 shares during the last quarter. CVA Family Office LLC raised its position in shares of Constellation Brands by 323.1% in the second quarter. CVA Family Office LLC now owns 110 shares of the company’s stock valued at $27,000 after buying an additional 84 shares during the last quarter. Finally, TimeScale Financial Inc. acquired a new position in shares of Constellation Brands in the second quarter valued at approximately $34,000. 88.99% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
STZ has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Constellation Brands from $309.00 to $301.00 and set an “overweight” rating for the company in a research report on Thursday, December 21st. Barclays cut their price objective on shares of Constellation Brands from $294.00 to $280.00 and set an “overweight” rating for the company in a research report on Friday, October 6th. The Goldman Sachs Group upped their price target on shares of Constellation Brands from $275.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, September 22nd. HSBC upped their price target on shares of Constellation Brands from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, October 6th. Finally, StockNews.com initiated coverage on shares of Constellation Brands in a research report on Thursday, October 5th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and a consensus target price of $289.24.
Constellation Brands Price Performance
STZ opened at $247.53 on Friday. The company has a quick ratio of 0.57, a current ratio of 1.20 and a debt-to-equity ratio of 1.10. Constellation Brands, Inc. has a 52-week low of $208.45 and a 52-week high of $273.65. The company has a 50 day moving average of $238.97 and a two-hundred day moving average of $248.91. The company has a market cap of $45.47 billion, a P/E ratio of 29.29, a P/E/G ratio of 1.92 and a beta of 0.96.
Constellation Brands (NYSE:STZ – Get Free Report) last announced its earnings results on Friday, January 5th. The company reported $3.19 earnings per share for the quarter, beating the consensus estimate of $3.03 by $0.16. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.54 billion. Constellation Brands had a net margin of 14.41% and a return on equity of 23.35%. The business’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.83 earnings per share. On average, analysts expect that Constellation Brands, Inc. will post 11.86 earnings per share for the current year.
Insider Activity
In other news, major shareholder Family Foundation Sands sold 102,152 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $241.84, for a total value of $24,704,439.68. Following the completion of the transaction, the insider now directly owns 409,077 shares in the company, valued at $98,931,181.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 16.19% of the company’s stock.
Constellation Brands Profile
Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Premier, Corona Familiar, Corona Light, Corona Refresca, Corona Hard Seltzer, Modelo Especial, Modelo Negra, Modelo Chelada, Victoria, Vicky Chamoy, and Pacifico brands.